A collection of news and insights about our firm and developments in the law, finance and insolvency industries
Last week was a busy week for educating and meeting solicitors in Sydney and Melbourne. Lots of solicitors are interested in finding out more about the new safe harbour from insolvent trading (section 588GA Corporations Act). So the firm is giving presentations on the new safe harbour for law and accounting discussion groups in […]
Insolvent trading claims by liquidators: Real threat or bluff? This isn’t a blog post written for other lawyers – it’s written for company directors. An insolvent trading claim is like a lightening strike, it is rare but dangerous if you’re unlucky enough to receive one. Recently, Australia’s insolvent trading laws have been significantly watered down […]
The case of ASIC v Plymin is significant for lawyers because it sets out a list of indicators that can help us understand when a company will be found to be insolvent. The general rule in law is that company insolvency is proven by a cash-flow test not a balance sheet test.
Five time Walkley Award winner, journalist and lawyer, Mark Davis interviews Ben Sewell of Sewell & Kettle Lawyers about Offshore Tax Haven Law. Discussion Includes Common Reporting Standard (CRS) Who is using tax havens? Challenges relating to offshore accounts Is there still interest in the tax haven model? Incentives for Australian companies to keep operating […]
The new safe harbour protection is not a defence to the insolvent trading prohibition but it is a carve-out that requires professional interpretation. This opens up an opportunity for solicitors to advise clients and evaluate any “course of action” that is developed […]
If you’re about to start a business you have a choice about how to structure it. Structuring means how you set up the legal instruments (i.e. trust deeds and contracts) and entities (companies, partnership, joint ventures) to conduct the business. One option is to trade through a company that is the trustee of a trading trust.
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